Automatic Termination Without Notice. Subject to applicable laws of the jurisdiction in which the franchise is located to the contrary, Area Operator shall be deemed to be in default under this Agreement, and all rights granted herein shall at our election automatically terminate without notice to Area Operator if: (i) Area Operator shall be adjudicated bankrupt or judicially determined to be insolvent (subject to any contrary provisions of any applicable state or federal laws), shall admit to its inability to meet its financial obligations as they become due or shall make a disposition for the benefit of its creditors; (ii) Area Operator shall allow a judgment against him in the amount of more than $25,000 to remain unsatisfied for a period of more than thirty (30) days (unless a supersedeas or other appeal bond has been filed); (iii) if the Restaurant at the Premises or the Area Operator’s assets are seized, taken over or foreclosed by a government official in the exercise of its duties, or seized, taken over, or foreclosed by a creditor or lien holder provided that a final judgment against the Area Operator remains unsatisfied for thirty (30) days (unless a supersedeas or other appeal bond has been filed); (iv) if a levy of execution of attachment has been made upon the license granted by this Agreement or upon any property used in the Restaurant at the Premises, and is not discharged within five (5) days of such levy or attachment; (v) if Area Operator consents to the entry of an order for relief in an involuntary proceeding or to the conversion of an involuntary proceeding to a voluntary proceeding under any such law; (vi) if Area Operator consents to the appointment of, or the taking of possession by a receiver, trustee, or other custodian (as defined in the Bankruptcy Code) for all or a substantial part of its property or the property of the franchise business; (vii) if Area Operator permits any recordation of a notice of mechanics lien against the Restaurant at the Premises or any equipment at the Restaurant at the Premises which is not released within sixty (60) days; or (viii) a condemnation or transfer in lieu of condemnation occurs.
Automatic Termination Without Notice. This Agreement will terminate automatically and without notice upon:
Automatic Termination Without Notice. This Agreement shall automatically terminate upon the earlier of a filing for bankruptcy protection by either party or the adjudication by a court of competent jurisdiction that either party is bankrupt.
Automatic Termination Without Notice. Subject to Applicable Laws of the jurisdiction in which Operator's Coffeehouse is located to the contrary, Operator shall be deemed to be in default under this Agreement, and all rights granted herein shall automatically terminate without notice to Operator if: (i) Operator shall be adjudicated bankrupt or judicially determined to be insolvent (subject to any contrary provisions of any applicable state or federal laws), shall admit to its inability to meet its financial obligations as they become due, or shall make a disposition for the benefit of its creditors; (ii) Operator shall allow a judgment against him in the amount of more than $5,000 to remain unsatisfied for a period of more than 30 days (unless a supersedeas or other appeal bond has been filed); (iii) if the Coffeehouse or Location, or the Operator's assets are seized, taken over or foreclosed by a government official in the exercise of its duties, or seized, taken over, or foreclosed by a creditor or lienholder provided that a final judgment against the Operator remains unsatisfied for 30) days (unless a supersedes or other appeal bond has been filed); (iv) if a levy of execution of attachment has been made upon the license granted by this Agreement or upon any property used in the Coffeehouse, and it is not discharged within 5 days of such levy or attachment; (v) if Operator permits any mechanics lien to attach to the Coffeehouse or to any equipment or other Leasehold Improvements; (vi) allows or permits any judgment to be entered against Franchisor or its subsidiaries or affiliated corporations, arising out of or relating to the operation of Operator's Coffeehouse; or (vii) is convicted of any felony, or any criminal misconduct relevant to the operation of the Coffeehouse.
Automatic Termination Without Notice. Franchisee shall be deemed to be in default under this Agreement and Snap-on Credit will without prejudice to any and all other rights and remedies it may have under this Agreement or under applicable law, terminate this Agreement without notice to Franchisee in the following instances:
Automatic Termination Without Notice. This Agreement shall terminate automatically without prior notice if: (i) Customer represents in any manner that the rights granted to it hereunder are exclusive; or (ii) this Agreement is deemed by operation of law to be an exclusive license for the Software.
